Issue of Equity

Fidelity Special Values PLC
23 April 2001

Fidelity Special Values PLC announces that on 23 April 2001 the Company
allotted 20,176 ordinary 25p shares at a price of 275 pence per share (which
represents a premium in excess of 2% over the latest diluted net asset value).
This was in respect of 11,363 shares purchased through the Fidelity Share Plan
and 8,813 shares purchased through the Fidelity ISA. The new shares will rank
pari passu with existing ordinary 25p shares.

The total number of ordinary 25p shares now in issue is 36,011,414.